Janney Montgomery Scott LLC Has $5.85 Million Position in Par Pacific Holdings, Inc. $PARR

Janney Montgomery Scott LLC boosted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 29.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,335 shares of the company’s stock after acquiring an additional 21,223 shares during the period. Janney Montgomery Scott LLC owned 0.19% of Par Pacific worth $5,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PARR. Smartleaf Asset Management LLC grew its holdings in shares of Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after purchasing an additional 478 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after purchasing an additional 1,558 shares during the period. Federated Hermes Inc. lifted its position in Par Pacific by 70.4% during the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after purchasing an additional 866 shares during the period. Finally, Royal Bank of Canada lifted its position in Par Pacific by 86.3% during the fourth quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock worth $130,000 after purchasing an additional 1,713 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Trading Up 0.1%

Shares of PARR stock opened at $58.56 on Friday. Par Pacific Holdings, Inc. has a twelve month low of $26.83 and a twelve month high of $70.39. The stock’s fifty day simple moving average is $58.15 and its 200 day simple moving average is $50.58. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2.94 billion, a P/E ratio of 6.54 and a beta of 0.82.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. Par Pacific’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) earnings per share. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 16.31 EPS for the current fiscal year.

Analysts Set New Price Targets

PARR has been the topic of several recent analyst reports. Evercore raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Raymond James Financial upped their price target on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Piper Sandler increased their price target on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $77.00 in a research note on Friday, April 10th. Finally, Guggenheim upgraded Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Par Pacific Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.